Prabhu Bank Records Tenfold Profit Growth in Q4, Boosted by Reversal in Impairment Charges; Distributable Profit Reached to Rs. 1.05 Arba
Summary
Prabhu Bank Limited reported a tenfold increase in net profit to Rs. 5.44 Arba for Q4 FY 2081/82, driven by a significant reversal of impairment charges. Distributable profit reached Rs. 1.05 Arba, with improvements in deposits and capital adequacy ratio.
Key Points
- Prabhu Bank's net profit surged by 965.41% in Q4 FY 2081/82 to Rs. 5.44 Arba from Rs. 51.08 Crore last year.
- Impairment charges reversed by Rs. 2.51 Arba compared to a provisioning expense of Rs. 4.72 Arba previously.
- Customer deposits increased by 12.19% to Rs. 3.42 Kharba and loans grew by 4.22% to Rs. 2.30 Kharba.
- Capital adequacy ratio improved to 13.90% and annualized earnings per share rose to Rs. 23.12 from Rs. 2.17.
